THE DRILL SERGEANT: Auroch Minerals (ASX: AOU) announced commencement of reverse-circulation (RC) drilling at the company’s Nepean nickel project south of Coolgardie in Western Australia.
The Nepean nickel project contains the historic high-grade Nepean nickel sulphide mine, which was the second producing nickel mine in Australia, producing approx. 1.1 million tonnes of ore between 1970 and 1987 for 32,202 tonnes of nickel metal at an average recovered grade of 2.99 per cent nickel.
The drilling is targeting a series of untested highly prospective aeromagnetic targets to the north and south of the Nepean mine that align with the mine’s stratigraphy and are considered by the company to represent a serpentinised core or high magnesium oxide unit of the komatiitic unit.
The targets extend for over 10km of strike and Auroch believes each has potential to host substantial massive nickel sulphide mineralisation.
The drillholes at these exploration targets have been planned to intersect the ultramafic-basalt contact and to define channel geometry, fertility and the presence of any nickel sulphides.
“We are pleased to have drilling underway at our recently-acquired high-grade Nepean nickel project, and are very excited by the huge potential to build on the existing nickel sulphide mineralisation as well as uncover further significant high-grade nickel sulphides,” Auroch Minerals managing director Aidan Platel said in the company’s ASX announcement.
“The nickel price has continued to rise to over US$18,000 per tonne and many forecasts for the price of nickel have recently been upgraded as we continue to see a greater disconnect between supply and demand for nickel, and in particular for Tier 1 nickel, forecasted for the next few years.
“As such, Auroch has aggressive work programmes planned for 2021 as we consolidate our existing high-grade nickel sulphide resources and move towards scoping studies, whilst at the same time continue to aggressively explore for new nickel discoveries, and we look forward to creating real value for our shareholders this year.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE